National News

Jan 30, 2019

2:06PM

Finance Minister Piyush Goyal today said, India Post Payment Bank, IPPB, is bringing transformational changes in the lives of people especially those who are living in rural India.

He was speaking at an event to mark the Second Anniversary of the India Post Payment Bank in New Delhi. Mr Goyal said, the aim of the bank is to provide banking facilities at the door step of every citizen.

Terming India Post Payment Bank a revolutionary banking system, Mr Goyal said, people should take advantage of the quality services being provided by the IPPB.

Speaking on the occasion, Communications Minister Manoj Sinha said, the aim of the government is that every Lok Sabha constituency will have one branch of India Post Payment Bank.

Mr Sinha said, more than 2.5 lakh postmen are working to ensure that the services of this bank reach every household. He said, the Bank is a major step towards financial inclusion and the accounts have increased substantially in the bank.

Being the most accessible, approachable and conveniently located bank, IPPB has its logo Aapka bank, aapke dwaar.

Starting with the launch of 3250 access points, IPPB is spreading its footprint and leveraging the vast postal network of nearly 1.55 lakh Post Offices and 3.0 lakh postal employees in every district, town and village of the country. IPPB was launched as a pilot project on 30 January 2017 in Ranchi and Raipur.

IPPB provides the banking services to urban and rural areas, but it’s primary focus is on rural segment.